Understanding the Budget: A step-by-step guide for investors

economictimes.indiatimes.com:

Union Budget. This time, I want to talk about how to understand the Budget in a very simple way.
A country’s Budget is nothing but the plan of how it will meet the expenses and arrange means to achieve them via income sources. A Budget is a financial statement that documents the government’s expected expenditure across all fields for the next year and matches it with the income or receipts expected from various sources.

In India, in other than general election years, on every 1st Feb, the Budget Estimate (BE) for the upcoming financial year is presented, along with the Revised Estimate for the ongoing financial year and actual figures for the previous financial year. The Revised Estimate (RE) is an updated version of the Budget Estimate, reflecting changes and adjustments made during the fiscal year.
The Actual figure represents the final, audited amounts of government revenues and expenditures for the completed fiscal year. In the election year, an Interim budget is presented that includes estimates of revenue and expenditure for the entire financial year, but it is primarily intended to cover the period until a new government takes office. An interim budget is later followed by a Full budget after the new government comes to power.

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